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correction? with the rising economy and profits this rally still has legs. also in year three of obama care premiums and insurance costs are rising sky-high. so are taxes. and small business costs are reducing profits by as much as 65% according to one small business owner we will talk to tonight. and the virtues of a free market capitalism that we talk about every night on this show are now forbidden fruit at stanford university. a popular long running pro capitalist course at that school has now been cancelled. what is up with that? "the kudlow report" begins right now. >>> first up, a major vote in the cyprus parliament helping to get that country closer to a teal with the european union. michelle caruso-cabrera joins us from cyprus again this evening with the very latest. good evening, michelle. >> reporter: larry, lawmakers here in cyprus taking a huge step tonight to prevent the financial collapse of their country. they pass ad law that will allow for the restructuring of their banks. this essentially means their sickest and largest banks will be down sized and made more healthy. this
everyone and welcome in, this is "the kudlow report." obama arrives in israel to cement our relationship with our great allie and he and netanyahu must deal with series issues. president obama is said that the use of chemical weapon this is in syria would be a game-changer. quote unquote, now back here the markets get back to rally mode. but, did the fed-head ever so subtly indicate an every so slightly less easy posture? that is my take and we will debate it later on. here is something that investors and businesses and consumers do not want to hear, it's a new tax on the internet. even downloads from ituness, who thinks that is a good idea? not me, here is good news "the kudlow report" begins right now. president obama in israel for the first same in his presidency, securing the relations with the allie in the middle east, here is what he had to say when greeted by benjamin netanyahu. it's in our fundamental security interest to stand with israel. it makes us both stronger and more prosperous and makes the world a better place. >> so question is, what exactly is the president hoping to
. >> okay. thank you very much for that. coming up, speaking of political events, president obama makes his first official trip to israel as a u.s. president. this after a recent poll shows only 10% of israelis view him favorably. we'll be live in jerusalem with more when we come back. don't go anywhere. zap technology. arrival. with hertz gold plus rewards, you skip the counters, the lines, and the paperwork. zap. it's our fastest and easiest way to get you into your car. it's just another way you'll be traveling at the speed of hertz. >>> >>> now the tiny island of cyprus' finance minister is appealing to russia for help. fresh off talks this morning, negotiations were constructive but no deal has been struck for a loan or further aid at this time. steve sedgwick spoke with the finance minister after that meeting. here's what he had to say. >> a very good first meeting. very constructive. very honest discussion. we underscored how difficult the situation is and we'll now continue our discussions to find a solution by which we will get -- we hope we'll get some support from russia. >> in t
insurance. [ticking] >> in 2010, president obama canceled nasa's plan to replace the space shuttle in favor of a more modest program. and then congress slashed the funding for that. with the end of an era, 60 minutes wondered what would happen to the generation that put america in space. when the smoke cleared from the last space shuttle launch, we stayed behind in brevard county, florida, the home of the kennedy space center. what comes after reaching for the stars? as scott pelley reported in april 2012, for many in brevard county, the answer was a hard landing. >> all three engines up and burning. >> there was nothing like it in the world. >> and liftoff. the final liftoff of atlantis. >> arguably the greatest engineering achievement of man. at liftoff, it weighed 4 1/2 million pounds, its top speed 17,000 miles an hour. >> the space shuttle spreads its wings one final time for the start of a sentimental journey into history. >> it was built by the hands of people like lou hanna. >> it was the experience and the job of a lifetime. i was working on the pad one day with a friend of mine, a
and the cpac political conference. dr. ben carson has a message to roll back obama care, deal with the crushing national debt, and even a bib llically based call r a flat tax. that's what i love. is he the conservative that can save the gop? here is the aforementioned dr. ben carson. director of the pediatric division at john hopkins university. and with us this hour, cnbc contributors keith boykin. as always, dr. carson, great to see you. i'm reading one of many articles that you're retiring in 100 days. i wonder if you would share future plans, especially public service. >> i have a lot of things on my agenda. i've got ten international trips. a multitude of speaking engagements around this country. we're working very hard with the college fund. we're in all 50 states. we're putting in reading rooms all around the country. particular particularly targeting title one schools. >> as you know, senator carl levin is retiring. any interest in that open senate seat? >> people keep trying to put me into politics. i don't believe i fit the mold. i don't believe in political correctness, and i certain
success of governors in the state. they've the boss. >> right now president obama has the whip hand and he's the executive. he's using it more effective than i've seen in the past. regarding governors, the thing i don't like about this is shorter primary process and fewer debates. i couldn't like that because i want everyone to have a shot at this. if you can't raise that money right upfront, you should still have a shot. nobody thought barack obama could beat hillary clinton and he did. we had a lot of debates about this one. it wasn't romney. he outlasted everybody. i think that process issue is important. last question. what about old fashioned free enterprise? free markets? lower tax rates? limited government. does that not play any more? >> it does, but the sides chose on that. it's the 10 million undecided. they vote for the brand they think is better looking or speaks better. he's a terrible president but amazing brand. >> he's a great speaker. you get him from the teleprompter, it changes. he isn't a great president, but very effective communicator. >> i've got to get out of here.
confirmed chemical weapons were used, but they can't say by whom. president obama, of course, has said use of chemical weapons would be a, quote, red line for his administration. we'll see whether that means the u.s. will get more involved in that civil war. >>> senate democrats drop the assault weapons ban from their gun control bill. california senator dianne feinstein had proposed the ban, but there was not enough support for it. >>> and a huge problem for lululemon. i know all the guys around the table are fixated on this one. one batch of its black yoga pants were too sheer. no one wants to pay 100 bucks for pants see-through. at least in that industry. the ceo is in trouble and the stock down nearly 10% since last friday. larry, if i can't make a joke on that one -- >> that's a beauty. >>, and of course, the white house, easter egg roll is definitely on. at least for now. press secretary jay carney putting to rest speculation it could be cancelled because of the sequester imposed budget cuts. but the tickets did go out with a warning. that it could be cancelled if there's a governmen
-- to one-fifth the size of the problem. let's do that to other people. president obama gave a big speech about how they were going to go after government contractors. they have about a $6 billion problem. we give government contractors money, they don't pay their taxes. we ought to say one of the conditions of getting the money is you pay your taxes. we know from the irs that you drop the problem to one-fifth its size if you say once you're told you have to pay, you we need to make arrangements or we let you go. >> do you think these federal workers let you get off too easy? they use excuses like dan tried to do. it's a very interesting thing. they get off too easy. >> i think most of them are well meaning, they want to do a good job and i don't know how there could be this many. >> because they're not so well manning. >> before you hire somebody, you should be able to find out if they owe money. >> that's part of the chaffetz bill. >> i'd like to see an analysis of how much they owe and not just the total but how much the individual owes. >> the average is 10,000 per guy for that $100,0
of entrepreneurs capitalizing on states legalizing pot. president obama making the short trip from jerusalem to the west bank this morning, he's meeting with palestinian leaders. the president is on its first visit to the middle east since becoming president. and finally, for anyone that grew up in the '70s, or '60s and '7on 0s like i did, you're not going to know anything about this. but the lead obituary in the "new york times," this is a big deal, believe it or not. harry reen, who was the first bona fide male adult film actor. he was the star of "deep throat." obviously. he was paid $250 to appear in that movie and it earned $6 00 million. he died at the age of 65. he he became a first amendment cause celeb. allen dirchuwitz represented him at one time. handle bar moustache. tae, but i would not bring that up, other than it is the lead obituary in the "new york times." $250 and the grossed $600 million. anyway, he's gone and we're going to go to break. [ male announcer ] what?! investors could lose tens of thousands of dollars in hidden fees on their 401(k)s?! go to e-trade and roll over
in the dodd/frank bill, in the financial sector, and in obama care, and in the health care sector. i think you're going to see some of the same things happening. you're going to see a lot of merger and acquisition activity. i like manhattan partners here. >> who gets hardest hit, as a result of obama care and dodd/frank? where are the areas of this market that you want to avoid, given this higher regulatory environment? >> when you see the passage of the sarbanes, you saw a lot of the smaller companies. they merged the together because they needed to get the economies of scale to cover the cost of all that regulation. i think you're going to see some of the same things happening -- >> smaller and mid-cap -- >> exactly. >> rick santelli, we did not forget about you, i assure you. while the stock market hasn't suffered too much over this, the safe havens have certainly benefited. >> they absolutely have. and the vote where they didn't pass it had virtually no effect on those markets, which have some traders scratching their heads. it's all about the euro today, and you can argue how important cy
and moved yesterday were skating about europeans. and russia, what diplomat isn't here? obama, of course, in israel, the only one we haven't seen this week. >> very good. steve sedgwick, thank you very much for hooking up with us by phone there after they shut you down on the street. let's go to josh lipton who we won't shut down. he's got a market flash. >> we're watching apple here which is popping today in the green. apple trading above its 50-day moving average, first time that's happened since october. trades will tell you technically apple has been working better here, moved higher last week than digested those gains. apple up about 1.4% right now. simon, back to you. >> thank you very much, josh. everything you buy online in america may soon have a big fat sales tax coming with it regardless of how you bought it. that's if washington or some in washington get their way. john harwood is on the case. he'll join us live from d.c. in a moment and if you hate to fly we have two stories that are going to make you feel potentially worse. you might as we'll get them here before getting sm
that got me into that bad mortgage. appreciate it. sue. >>> up next, an amazing story from president obama's trip to the high-tech conference in israel where they're working on technology that is helping the paralyzed to walk again. >>> plus, a game changer for suburbia. phil lebeau is live in chicago. phil? >> sue, i had one, a lot of my friends had one, minivans. they used to be part of living in suburban america. those days are gone. what's replacing it? the wagon. that's coming up on "power lunch." [ male announcer ] every famous curve has an equally thrilling, lesser-known counterpart. conquer them with the exhilarating is 250. get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. redesigned site has this new score planner tool with these cool sliders. this one lets us know what happens if someone checks our credit. oh. this one lets us know what happens if we pay off our loans. yeah. what's this one do? i dunno. ♪every rose has it's thorn ♪just like every night ♪has it's dawn score planner is free to everyo
bank, would you leave it in there? >> it's really that much different than obama care? you're sure? >> yes. >> really? >> yes. >> we're pretty -- our idea is why not take for the preschool program, take 10%, why not pay for solar energy and alternative energy development? why not pay -- if obama gets started on this -- >> joe and i have agreed that we're going to compensate -- what do you want to see, 20%? >> we'll start at 20. we'll start at 20. >> as we spend it all, we're going to need more. we're going to need the preschool, we're going to need solar energy. >> i thought i was completely wrong this what it was. >> it's an island, isn't it? >> it's an island. >> but it shows you how interconnected it is. >> i know. and fait accompli, he said i got there and is they were doing it. >> what if you found out that your bank got taken over by the fdic and the insurance that you thought protected your money was not there, that it was wrong? that's the problem. >> and by the way, 10% of your money is gone, too. >> explain to the eurozone just waking up exactly what -- >> carolin is goin
are taking. bernanke recognizes that obama and congress have repeated the errors of 1937 down to a tee. he can't let the fed's part in the drama be repeated. otherwise he'd go down as the fed chief who never got the economy going and put it back in a recession, a recession in a great recession. only world war ii ended the depression. and bernanke is not banking on being rescued by that kind of catastrophe. some people who don't know history are pressing him to do so. he's cognizant that we have seen the economy get hot and each time it's fizzled. he knows that things can be more fragile than they seem. he set the goal of 6.5% unemployment, nowhere near where we're right now and he'll wait until we get there until he decides to tighten. don't you wish you go back to 1937 and you could undo what the fed did then? i know bernanke would love to go back there. the depression would have ended years earlier. bernanke knows that's no do over. he'll play it safe the way his predecessors should have played it 76 years ago. consider what we heard today. i was on the street signs with brian and mandy
as obama scares us into thinking it is. we know that local and state governments are cutting back. that's not positive. finally, there is this missed quarter evidence. federal express did blow up. it was not a good number. caterpillar is down 12%, retail sales number might not translate into weak earnings. i was prepared for cat sales to be flat, maybe up a little, not down double digits. then we got oracle. while oracle almost always bounces back, making my charitable trust which owns the stock want to buy more, i have to believe the macroenvironment has gotten worse than we thought. oracle is not that bad a company. you don't want to get too negative either. what could be right? while i don't expect a grand bargain in washington, i think that's off the table, it's always possible and if that happens and you're short the market, betting against it or don't have enough stock, you will be left behind. you will be crushed. you short the market, we get a grand bargain, one solution. second, the brinkmanship game in europe could get resolved with some solution we don't know about yet that w
reset and it was the amount of tax put on medicare devices under obama care. everybody is now saying 2.3% will destroy it. the sequester, payroll tax hike and the new tax on the medical device makers and all of those are effectively 2.3%. >> do you think it's a fibonacci thi thing? >> it's a 15th century mathematician. that's how i spend my time. >> i think it's worth it. >> this is going to be the fed week. i hear 2.3%, and does that make you feel good or bad about the growth of the country? in other words, are we -- are we getting hotter like frank blake says or can the fed say, look, you know? it's not getting hot. >> you were talking in the break about goldman sachs and deutsche bank raising the target to 1625. deutsche bank raised its gdp target to 2.3%. 2.3% in 2013. >> 2.3% and three is not the magic number. >> 2.3% and when you were going through that i was -- that was -- yeah. blew my mind. >> she has steam coming out of her ear. >> i think this is a very big issue. does the fed look at something like a goldman sachs, sup earnings numbers and say this is time to start backing
of an obama play, if you will, you're getting a larger and larger portion of americans that don't qualify for traditional credit. and discover, while it's still a prime lender, is moving into that market. that's a -- it's a specific stock, but there's -- i think probably one of the best areas within financials is where the regulars have created an area where there's so much demand because borrowers' needs are not getting met. and that is effectively a shadow industry that's developing inside of the united states that's growing dramatically, that's, you know, that is not under the jury diction of tisdi consumer finance protection bureau. also importantly i'm a big advocate that parts of the united states are growing faster than emergining markets. so you have louisiana growing gdp on a double digit basis. >> you've luked the ag states for a long time. >> i like the ag states. anything exposed to the energy states, too. the big banks don't have a large concentration to those areas. they're well exposed, but they don't have a large concentration. >> would you put new money to work in this ma
. lots of pushes to take that up to $9, as president obama has talked about. the average starbucks barista, according to glassdoor website, makes $8.78 an hour. >> well, that's a little misleading, but i'll come back to that. you know, i think the minimum wage issue is a double-edged sword. and what i would not want to see is the minimum wage go up and as a result of that, employers starting to hire less people or cutting people's hours. and you have to be very careful of the unintended consequences. on balance, i am a supporter of the minimum wage going up, but i think we've got to be very, very careful and be careful what we wish for, because some employers, and it could be a lot of them, will be scared away from hiring new people or creating incremental hours for part-time people as a result of that wage going up. so you've got to be very careful and this has to be very thought out. and i would say, in terms of the health care law, that's going to go into effect, there are significant unintended consequences that was not thought out as much as it should have, that will significa
their fees for next year, because of the higher costs associated with obama care. you see some declines there as well. for the week, the major indices, believe it or not, this would be the worst week of the year. and essentially, all the major indices are down fractionally. and i say for the s&p 500, down 0.4%, an indication of how strong we've been all throughout the year. i'll have the final numbers in just half an hour. guys, back to you. >> thank you so much, bob. nearly a month ago, byron wien told us that the market was getting ahead of itself and profit margins could take it back. >> that was back on the 27th. since then, the markets have continued to climbing. joining us, byron wien, happy friday, byron. >> yeah, i'm still there. >> so you're still cautious? the market has continued higher. >> well, yeah, you know, as long as the fed is pumping $85 billion a month into the market, a lot of that is designed to go into the real economy. but it ends up going into financial assets. so it's been pushing stocks higher. but, you know, the earnings season is starting to -- is upon us. a
city at 3.6. that brings you to 53%, put on that obama care -- >> right. >> 3.6 or 3.8 -- >> yeah. >> another tax. you're talking about 56.8% of your income going right to the government. 56.8%. >> i talked to an accountant today who says his clients say, tell mel what my rate is this year, tell me what i'm spending on taxes compared to last year. people have woken up to this. and, look, whether we're going to see a massive tax flight, if wealth is going to flee the states, we don't know. but for the first time, the wealthy are feeling like, you know what, what is my pain threshold here, it may be too much. >> absolutely. it's really interesting to see bill maher talk about it. i may have to start watching bill maher again. >> that's huge. >> thank you, robert. >> thank you. >> robert frank. >>> is michael getting dell? the answer will come soon, as competitors only have until midnight tonight to submit higher builds for the computer maker. now the maker has reportedly gotten interest from carl icahn and blackstone. so, will michael dell's offer be enough and will shareholders app
, china's exchange rate controls sigh better spying and president obama leaves tonight for israel. no major policy breakthroughs are expected. this is the president's first visit to the west bank since moving into the white house. i think he was there maybe before becoming president. >>> why don't we take a look at the markets this morning. down day, up day, down day, futures are barely budging. dow futures up by less than 2 points. s&p futures up by less than one point. yesterday, it was the biggest losses. financials led the decline all day long, but in the afternoon selling picked up in energy stocks, materials, consumer discretionaries. if you're watching oil prices this morning, you'll see at least at this point they are down by 16 cents, 93.58. the ten-year notoriety now is yielding 1.942%. let's take a look at the dollar this morning. you'll see it stronger against through at 1 is.2933. the dollar/yen is 95.35. the dollar up across theed board, except weaker against the pound right now. gold price ves barely budged a little weaker, down 2.60. $1,602 an ounce. >> it's now ti
. >>> welcome >>> welcome back. we're looking at a live picture from tel aviv. president obama just landed there for the start of a three-day visit to israel. first time he's been there as president. that's a beautiful, beautiful 747. >> do you see that smaller plane on the left. that's one of ours or one of theirs? >> it has the same colors. i don't know. did i see stars and stripes on it. there's probably enough people going with him they need -- 747 -- i don't know. >> there are a lot of people. look at equity futures at this hour. green arrows across the board. dow opened 53 points higher. we'll watch shares of home builder lennar today. 11 cents above estimate. revenue also above consensus. new orders jumped 34% over a year ago with home deliveries up 28% and backlog up 82%. >> in other news this morning, south korean police are investigating a hacking attack on an internet provider that brought down the servers of three broadcasters and two major banks. the army raised its alert level due to concerns. who do you think would be involved? yeah. north korea. >> dennis rodman's favorite
overwhelmingly passed the largely symbolic appeal of the tax. that helps to fund president obama's 2012 health care law. the senate voted on the tax but the resolution is not binding and it will not change the levy. so they get to say we voted to repeal it even though it doesn't actually repeal it. >> you said dumping duties? >> i said anti-dumping duties, actually. >> dumping duties. let's check on duties. >> d-u-t-i-e-s. >> okay. let's check on markets. i saw them early, even though -- >> duties? >> duties. kyle, you're still doing that, right? >> duties? yes. he doesn't call it that. >> oh, yeah, lots of them. you want a healthy -- you know? it's a growing boy. he's a big, strapping kid. >> he's got it. >> futures indicated higher even though europe is lower, up 13 points or so. not a great day yesterday. we lost about 90 on points. there's what's happening in crude this morning, up 21 cents a share -- or 21 cents a barrel. treasuries, 1 is.9%. i would have been watching grass dry for the last year or two and there's the dollar. 12.29 on europe. and then, you know, you would figure gold mig
be joining it. i mean, i think you've seen amazing things come from our president barack obama. you know, the first place he went to when he was re-elected was twitter, you know, posting a picture of himself and his wife. i think that's -- that's amazing, that's huge. >> right. drew, we're going to leave it there. thanks for joining us. >> thanks for having me. >> and we'll be right back. this is cn cnbhursday morning. stay with us. ♪ [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ [ engine revs ] (announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to.
to help finance the national health care law in the early part of the obama administration. the reason it's spring training is that budget resolutions themselves are not lost. so these are not binding votes, but they're a way to test sent ims for what they make later on and that's what we're seeing on the online sales tax situation. 48 states already have laws on the books requiring online retailers to collect state sales tax, but those laws are often ignored and you have a bill that has some bipartisan support that would require all states to collect those taxes. if split, the big box brick and mortar retailers from online sellers and it's also split some of the online community. amazon is supporting this, but ebay is against it. they're looking for a carveout for their business model. so what we're going to see is does this effort to collect these taxes have more than 60 votes? if it does, that's going give momentum to this cause later on in the congress, maybe give a push to the effort in the house although it's going to run into the difficult anti-tax sentiment in the house among repu
of mava group and ceo. he's also a former obama task force senior member. you have done a lot of restructuring. the more i found out about cyprus the harder it is for me with a broad brush to detect others in europe. there are some countries that exist. it's treated better in a tax preferred way. it earns a return. i guess even switzerland to some extent is like that. what's the other one that's big? >> latvia. but what we think about with the issues in europe with the labor -- they need some structural reform long term. it's an entitlement state. they promised him. this is a totally different situation. this is a bunch of rich russians that went in there to try to sort of game the system. they found out there was a lot of investment in greek bond. so they're losing this money. why is this something that should bring down europe? >> i don't think it would be. it wasn't the russian flown that overinflated the system. it was that they invested in bad assets. >> you're greek, too. >> i am. today is greek independence day. it's a great day. >> you know a lot about this whole situa
Search Results 0 to 29 of about 30 (some duplicates have been removed)